Ann: Euroz Conference Presentation, page-85

Outlook from March presentation:

• "Karouni ramp up on track to reach mill throughput design capacity in March 2016.
• Positive Reconciliation achieved in both Smarts and Hicks mining operations.
• Geological update driving enhanced resource development programme and potential extension of LOM Plan.
• Strong cost guidance for CY2016 to position Troy in a competitive position on the ASX.
• Robust cash flow generation to strengthen Balance Sheet and unlock a new period of growth for Troy."

This looks very promising particularly when we add high grades, low AISC and gold
prices circa $1600 AUD.

With a bit of luck we should see the SP  70c+ by the Mar Qtr report.